Property & casualty underwriter Argo Group Worldwide Holdings, Ltd. has once more didn’t well timed file its annual report on Type 10-Ok, for a special cause this time round.
In a US Securities and Trade Fee notification, Argo defined: “Argo Group Worldwide Holdings, Ltd. is unable to file its annual report on Type 10-Ok for the fiscal 12 months ended December 31, 2021, throughout the prescribed time interval with out unreasonable effort or expense.
“Though the corporate has employed personnel and engaged the help of third-party consultants to help us with our tax and accounting capabilities, the lack of sure personnel in these capabilities in the course of the fourth quarter has precipitated delays in finishing all the mandatory procedures and management processes for making ready and certifying the Type 10-Ok.”
In keeping with the Bermuda-headquartered insurance coverage group, its impartial registered public accounting agency continues to be within the means of finishing the audit of the monetary statements and inside controls over monetary reporting, on account of the delay.
Round this time final 12 months, Argo issued the same notification of late submitting. Again then, the insurer attributed the delay to widespread energy outages following winter storms in San Antonio, Texas the place Argo’s major monetary reporting centre is positioned.
In the meantime, Argo expects to file its 2021 10-Ok earlier than the tip of the 15-day extension interval.